Palm Coast FHA Loans

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Palm Coast Florida FHA home mortgage loans permit borrowers to get an easy home mortgage for your home. The federal government insures these home mortgage loans through the FHA Department to ensure homeowners to get home mortgage loans with limited requirements and to provide security to the money lender. If an FHA mortgagor defaults on his payments, the MI covers the loss of the bankers.

Advantages of Palm Coast FHA Home Mortgage Loans

With a low down payment of about 3.5% and its assumable terms of borrowing, Palm Coast FHA home mortgage loans are a viable option for first home buyers today. Even borrowers with less than perfect credit scores can easily opt for a Palm Coast FHA home mortgage.

Drawbacks of a Palm Coast FHA Mortgage Loan

However with the benefits of easy accessibility comes the drawbacks that you have to pay a little more on your regular home mortgage payments to make up for the MIP.

Requirements to Qualify for an FHA Home Mortgage

In order to qualify for a Palm Coast FHA mortgage, you need to be a legal citizen of the USA with gainful employment. Moreover, as the FHA department only accepts selected bankers for their home mortgage insurance, you can’t apply online for a Palm Coast FHA home mortgage from every money lender. Even after you locate the right home mortgage from every money lender, an FHA home mortgage is only acceptable if the property you are requesting to buy has been authorized by the FHA department.

Extent of a Palm Coast FHA Mortgage

The maximum limits of the mortgage amount vary in every state and county of the USA, however, the general max home mortgage amount is approximately $625,000.

How to Get a Palm Coast FHA Loan?

If you wish to get a Palm Coast FHA home loan, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home mortgage loans and clarify your query to simplify the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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